Pros:
Visual
Easy to do the change
Cons:
You have to really gimmick the bills
Its pretty gutsy placing the gimmick on their hand
Have the change with the wallet
Can't really show them openly
Plus, your handing out that money which I would be iffy about handing it out.
They can't examine the wallet or the first bills
You have to be in the right lighting
Overall I would say extreme burn 2.0 is a much better change than first hand. I have worked Extreme Burn and It gets a great reaction each time, It is also very practical